Advance /decline ratio was in favor of bears and it indicates people are exiting their positions in every rally and lot of shorts have been created in the system again.Though dollar came all the way down stocks were not ready to react in favor of that. It indicates yesterdays rally was fully supported by retailers and the turnover reveals that. Whenever it comes down Nifty is getting supported by a good number of buyers and shorts are getting covered soon. 4900 is a key level to watch out for and lets see some more pain below 4900 . October 3-4 are crucial dates as the market could top out. As tomorrow is the expiry day and closing suggests there wont much of an upside and in the opening though it may go up it would be met with huge amount of writing in 5000 Call.
